Boralex (TSE:BLX) Posts Quarterly Earnings Results

Boralex (TSE:BLX) released its quarterly earnings data on Thursday. The company reported C($0.08) earnings per share for the quarter, FiscalAI reports. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The company had revenue of C$286.00 million for the quarter.

Boralex Stock Performance

TSE BLX traded down C$0.10 during trading hours on Thursday, hitting C$36.82. 337,681 shares of the company’s stock traded hands, compared to its average volume of 742,976. The firm has a market capitalization of C$3.78 billion, a P/E ratio of 613.67, a P/E/G ratio of 2.01 and a beta of 0.26. Boralex has a 52 week low of C$23.48 and a 52 week high of C$36.99. The business’s fifty day moving average price is C$33.98 and its two-hundred day moving average price is C$28.93. The company has a current ratio of 1.29, a quick ratio of 1.54 and a debt-to-equity ratio of 323.15.

Analyst Ratings Changes

Several research firms have recently weighed in on BLX. Canadian Imperial Bank of Commerce decreased their price objective on shares of Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. Scotiabank decreased their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and boosted their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$38.64.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.